Contract
Exhibit
10.4(b)
[SERP
Amendment Form]
AMENDMENT
TO SUPPLEMENTAL EXECUTIVE
RETIREMENT
PLAN AGREEMENT
DATED
___________________
THIS
AGREEMENT entered into as of the ____ day of _________, ____, by and between NEW
JERSEY RESOURCES CORPORATION, a corporation of New Jersey (hereinafter called
the “Company”), and ___________________ (hereinafter called
“Employee”).
W I T N E S S E T
H
WHEREAS,
the Company and Employee entered into a Supplemental Executive Retirement Plan
Agreement dated ___________, ____ (referred to, with any amendments thereto, as
the “Original Agreement”), and desires to amend said Original Agreement in
accordance with Paragraph 16 thereof; and
WHEREAS,
Employee is employed by the Company and is presently the
_____________________________________; and
WHEREAS,
the Company desires Employee to remain in its service until retirement, and
wishes to offer him additional incentive to do so in the form of deferred
compensation and death benefits;
NOW,
THEREFORE, in consideration of the premises and of the covenants and agreements
herein contained, and as set forth in the Original Agreement, and for other good
and valuable consideration, the parties hereto do covenant and agree as
follows:
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1.
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The
first sentence of Paragraph 2 of the Original Agreement is hereby amended
to increase amount payable thereunder and to read as
follows:
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“2.
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The
Company agrees that following Employee’s Separation from Service at or
after attainment of age sixty-five (65) for reasons other than death, it
will pay to Employee the sum of ____________________________
($_____________) (hereinafter referred to as the “SERP Benefit”), payable
in sixty (60) equal monthly
installments.”
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2.
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The
first sentence of Paragraph 3 of the Original Agreement is hereby amended
to increase the amount payable thereunder and to read as
follows:
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“3.
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In
the event that Employee dies while in active employment with the Company
but prior to his or her Separation from Service, and such death is due to
a cause other than suicide, the Company shall pay a Death Benefit in the
amount of ________________ ($__________) to his/her designated
beneficiary, in sixty (60) equal monthly
installments.”
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3.
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Nothing
in this Agreement shall change the time and form of payment of the benefit
payable under the Original Agreement and shall only have the effect of
increasing the benefit payable under the Original
Agreement.
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4.
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Schedule
“A” annexed to and made a part of the Original Agreement is hereby amended
to read as follows:
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[Insert
Chart]
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5.
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This
Amendment shall be effective as of
__________________.
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IN
WITNESS WHEREOF, the parties have hereunto set their hands and seals this ____
day of ____________, _____.
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ATTEST:
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NEW JERSEY RESOURCES
CORPORATION
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By:
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By:
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__________________________
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XXXXXXXX
X. XXXXXX
Chairman
and CEO
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SIGNED,
SEALED, AND DELIVERED
IN
THE PRESENCE OF:
___________________________________
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